The 2013 Ford Shelby GT500 will be the first 200 mph American muscle car.

The supercharged 5.8-liter engine in Ford’s newly-updated Shelby GT500 has officially been certified by the Society of Automotive Engineers as the world’s most powerful series production V-8.

The big powerplant, used in Ford’s top-end Mustang, will make 662 horsepower and 631 pound-feet of torque. That works out to just over 114 horsepower per liter – and it’s enough to propel the pony car to a top speed of 200 miles per hour, putting it into the rarified atmosphere normally reserved for such European exotics as the Ferrari 458 Italia or Lamborghini Aventador.

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But what’s equally impressive, the maker boasts, is the fact that the 2013 Ford Shelby GT500 will get 24 mile per gallon on the highway, a 1 mpg boost over the 2012 model, which made “just” 550 horsepower. The city mileage is up 1 mpg, as well, at 15, with a combined rating of 18 mpg. That’s enough for Ford to avoid the unwanted gas guzzler premium that often scares potential buyers away.

Ford will break the 200 mph barrier with the 2013 Ford Shelby GT500, the first time a Detroit muscle car has ever reached that limit – a speed normally reserved for the most exotic and expensive sports cars.

The GT500 will be one of several versions of the updated 2013 Ford Mustang making their debut this week at the L.A. Auto Show. The debut is critical for the number two U.S. maker which has seen its long-dominant pony car slip behind its arch-rival, since the return of the Chevrolet Camaro in 2010.

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The changes cover a range of features, from sports seats to performance packages, as well as modest tweaks to the basic Mustang styling. But the star of the automaker’s L.A. Show will undoubtedly be the Shelby GT500, the package now putting out an awe-inspiring 650-horsepower and 600 pound-feet of torque.